Oil

Saudi Arabia

Aramco Shares Switch May Boost Saudi Renewables

Saudi Aramco, the world's largest oil-exporting company, transferred 4% of its shares to the kingdom's Public Investment Fund, which is expected to use the proc…

Natural Gas

‘Poland’s Gas Plans Will Stop Net Zero Aims’

A new report claims Polish plans for new gas projects will cost taxpayers £3.3bn and make the 2050 target for reaching net zero an impossibility.

South Africa

President Ramaphosa Calls for Expansion of South Africa’s Upstream Oil and Gas Industry

The President of South Africa, H.E. Cyril Ramaphosa, announced that the government would continue to support the development of the southern African country’s …

Oil & Gas Supply

Cutting Russia’s Oil Flow To Europe Would Be A Disaster

The Russia-Ukraine crisis has put the energy market on high alert for possible disruptions of Russian energy supplies to Europe.

Oil Price

Opec+ Supply Shortfall Could Push Oil Prices Higher, IEA Says

An oil supply shortfall from Opec+ group of countries may lead to a tighter market and push prices higher, according to the International Energy Agency.

Oil Price

Oil Prices Pump over 3% on Supply Concerns over Ukraine Crisis

Oil prices rose for an eighth straight week amid growing concerns about supply disruptions as a result of intensifying geopolitical tensions in eastern Europe a…

Natural Gas

Equinor Posts US$15bn Earnings on High Gas Prices

Equinor capitalised on high prices for gas and liquids by posting earnings of US$15bn and recording free cash flow of US$25bn in Q4 2021.

Natural Gas

Gas Crunch Causes Electricity Crisis Despite Record Cheap Clean Energy. Time to Create a “Green Energy Pool”?

In the UK and similar nations, the gas crisis is ballooning electricity prices too.

Oil Price

Big Oil Is Pumping out Cash as if $100 Oil Has Already Arrived

The world’s oil supermajors are pumping out cash as if crude was already trading at $100 a barrel.

Oil Price

South Korea's Hyundai Oilbank to Supply 80,000 b/d Middle Distillates to Aramco Trading

South Korean oil refiner Hyundai Oilbank has agreed to provide Won 3 trillion ($2.5 billion) worth of refined oil products to oil giant Saudi Aramco's trading a…

Oil Price

Higher Oil & Gas Prices Lift TotalEnergies Profit

French energy major TotalEnergies saw its quarterly profit soar at the end of last year while returning to the black on a year-over-year basis driven by higher …

CCS

Eni Signs up for Carbon Capture Deal

Oil major Eni UK has announced the signing of 19 Memorandums of Understanding (MoUs) with companies interested in having their emissions captured, transported a…

Sumitomo Electric Secures US$200M Worth 400 kV High-Voltage Direct Current Submarine Cable Project in UAE

Sumitomo Electric Industries, Ltd. has received a limited notice to proceed (LNTP) from Samsung C&T Corporation to deliver a high-voltage direct current (HVDC) …

Oil Price

White House: No Oil Producer Should Hold Back Supply As Oil Hits $90

The White House says as oil hit $90, noting that the U.S. Administration has left “all options on the table” to address high oil and gasoline prices and could…

Oil Price

JPMorgan: Oil Could Easily Hit $120 If Russia-Ukraine Tensions Escalate

JPMorgan is warning that Brent crude could “easily” reach $120 per barrel—if the geopolitical conditions between Russia and Ukraine deteriorate.